Getty Realty Corp. (GTY) Stock Rating Upgraded by Zacks Investment Research
Getty Realty Corp. (NYSE:GTY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage currently has a $27.00 price target on the real estate investment trust’s stock. Zacks Investment Research’s price target indicates a potential upside of 12.41% from the stock’s previous close.
According to Zacks, “Getty Realty Corp. is a real estate investment trust engaged in the ownership, leasing and financing of retail motor fuel and convenience store properties and petroleum distribution terminals in the United States. The company’s properties are leased or sublet to distributors and retailers engaged in the sale of gasoline and various motor fuel products, convenience store products, and automotive repair services. Getty’s properties are operated under a variety of brands including Getty, BP, Exxon, Mobil, Shell, Chevron, Valero, Fina and Aloha. It is also a marketer of heating oil in Pennsylvania and Maryland. Getty Realty Corp. is headquartered in Jericho, New York. “
Shares of Getty Realty Corp. (NYSE:GTY) opened at 24.02 on Tuesday. Getty Realty Corp. has a one year low of $16.21 and a one year high of $24.33. The stock has a market capitalization of $815.21 million, a P/E ratio of 16.35 and a beta of 0.60. The stock has a 50 day moving average of $22.79 and a 200-day moving average of $22.46.
Getty Realty Corp. (NYSE:GTY) last posted its quarterly earnings results on Wednesday, October 26th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.06. The firm earned $24.33 million during the quarter, compared to analyst estimates of $24 million. Getty Realty Corp. had a return on equity of 12.35% and a net margin of 43.33%. Getty Realty Corp.’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 EPS. Equities analysts forecast that Getty Realty Corp. will post $1.77 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 5th. Investors of record on Thursday, December 22nd will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 4.66%. This is an increase from Getty Realty Corp.’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, December 20th. Getty Realty Corp.’s dividend payout ratio (DPR) is presently 67.57%.
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A number of large investors have recently added to or reduced their stakes in GTY. California Public Employees Retirement System increased its stake in Getty Realty Corp. by 14.1% in the second quarter. California Public Employees Retirement System now owns 151,707 shares of the real estate investment trust’s stock valued at $3,254,000 after buying an additional 18,700 shares during the last quarter. DIAM Co. Ltd. increased its stake in Getty Realty Corp. by 1.2% in the second quarter. DIAM Co. Ltd. now owns 77,971 shares of the real estate investment trust’s stock valued at $1,663,000 after buying an additional 911 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in Getty Realty Corp. during the second quarter valued at approximately $2,268,000. Navellier & Associates Inc acquired a new stake in Getty Realty Corp. during the second quarter valued at approximately $1,593,000. Finally, KBC Group NV increased its stake in Getty Realty Corp. by 86.8% in the second quarter. KBC Group NV now owns 11,306 shares of the real estate investment trust’s stock valued at $243,000 after buying an additional 5,255 shares during the last quarter. Institutional investors own 55.94% of the company’s stock.
Getty Realty Corp. Company Profile
Getty Realty Corp. is a real estate investment trust. The Company is engaged in the ownership, leasing and financing of convenience store and gasoline station properties. It owns and leases approximately 850 properties that are located in over 20 states across the United States and Washington, District of Columbia.
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